Cost of Living: Madison, WI vs Peoria, IL (2026)

Madison

Wisconsin
103
VS

Peoria

Illinois
61

Madison is 69% more expensive than Peoria.

$1,364/mo ↑ 43%
Median Rent
$951/mo ↓ 30%
$76,983/yr ↑ 31%
Median Income
$58,716/yr ↓ 24%
$346,900 ↑ 132%
Home Value
$149,500 ↓ 57%
$1,476/mo ↑ 47%
Owner Costs
$1,007/mo ↓ 32%
275,568
Population
112,126

Tax Comparison

7.65%
Income Tax
4.95%
5.0%
State Sales Tax
6.25%
1.61%
Property Tax
2.07%

Affordability

21.3%
rent-to-income
Affordability
19.4%
rent-to-income

Detailed Comparison

When comparing Madison, WI and Peoria, IL, the overall cost of living indices are 103 and 61 respectively (national median = 100). Rent is $413/month cheaper in Peoria, saving renters about $4,956/year.

Median household income is $18,267/year higher in Madison. Home values also differ significantly — the median in Madison is $346,900 compared to $149,500 in Peoria.

Illinois has a lower income tax rate, making Peoria slightly more tax-friendly.

Frequently Asked Questions

Madison vs Peoria — common questions

Is Madison or Peoria cheaper to live in?
Based on our cost index, Peoria is cheaper to live in with an index of 61 compared to 103 (US average = 100).
What is the rent difference between Madison and Peoria?
Median rent in Madison is $1,364/month and in Peoria it's $951/month — a difference of $413/month.
Which city has higher income, Madison or Peoria?
Median household income is $76,983 in Madison and $58,716 in Peoria. Median household income is $18,267/year higher in Madison.
How do taxes compare between Wisconsin and Illinois?
Wisconsin has 7.65% income tax, 5.0% sales tax, and 1.61% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Madison or Peoria?
It depends on your priorities. Madison has a cost index of 103 with median rent of $1,364/mo, while Peoria has a cost index of 61 with rent of $951/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Madison details → View Peoria details →

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